Psych Levels, Pivots, and Trendlines - Resurrected | Page 524 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #10,461
  • Jul 29, 2015 7:31am Jul 29, 2015 7:31am
Quoting Cold_W
{quote} Thank you This combination is simple and effective. Here is another one UJ M15 {image}
Good Job, you nailed it
  • #10,462
  • Jul 29, 2015 8:04am Jul 29, 2015 8:04am
Quoting fxnikolaev
{quote} I hope ur wifre is getting better ! God bless u both !!!
She seems a LOT better, thanks, fxn. And thank you for God's blessings!
  • #10,463
  • Jul 29, 2015 2:29pm Jul 29, 2015 2:29pm
15m..... GBP/CHF

Now that's what I call a BULLISH ENGULFING CANDLE!!! Entry and exit as indicated.

Attached Image
  • #10,464
  • Jul 30, 2015 1:48am Jul 30, 2015 1:48am
Morning,

UC M15

Ascending Triangle breakout.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM15.png Size: 47 KB
  • #10,465
  • Jul 30, 2015 2:23am Jul 30, 2015 2:23am
15m..... GBP/CHF

Now that's what I call a BULLISH ENGULFING CANDLE!!! Entry and exit as indicated.

Lol Now that's a big engulfing pattern,
nice trade EV


Quoting Cold_W
Morning, UC M15 Ascending Triangle breakout. {image}
Nice trade mate, well done
  • #10,466
  • Jul 30, 2015 3:24am Jul 30, 2015 3:24am
Quoting Cold_W
Morning, UC M15 Ascending Triangle breakout. {image}
How many pairs do you watch in order to chose one pair to trade ?
every Saint has a past. Every Sinner has a Future
  • #10,467
  • Jul 30, 2015 3:33am Jul 30, 2015 3:33am
Quoting turnip15
{quote} How many pairs do you watch in order to chose one pair to trade ?
I have 10-12 pairs on charts
  • #10,468
  • Jul 30, 2015 3:52am Jul 30, 2015 3:52am
Quoting Cold_W
{quote} I have 10-12 pairs on charts
LOL! My head hurts just thinking about that many
  • #10,469
  • Edited 7:23am Jul 30, 2015 5:58am | Edited 7:23am
Quoting coastie
{quote} LOL! My head hurts just thinking about that many
I only look for patterns around pivots and MAs so it's not so hard to have 10 pairs.

Have you got your 20 pips trade today?
  • #10,470
  • Jul 30, 2015 6:11am Jul 30, 2015 6:11am
UJ M15

Doji sandwich below R1.
Closed the trade on MR1 for +8 only.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM15.png Size: 56 KB
  • #10,471
  • Jul 30, 2015 7:54am Jul 30, 2015 7:54am
15m..... EU

I missed completing this one, as I was called away and never managed to enter the trade. Potential entry as shown. The confluence involving a descending triangle, 50sma and MS1 led to what became 30 or so missed pips !!!
Attached Image
  • #10,472
  • Jul 30, 2015 8:40am Jul 30, 2015 8:40am
Hello friends,

UJ: Bullish Harami a Pivot Mid and confluence of 13ema. Possible bailed out too soon but a 1:1 RR isn't bad at all
Attached Image
  • #10,473
  • Jul 30, 2015 12:02pm Jul 30, 2015 12:02pm
This one is a trade that ended up in a loss, just as a sanity check, is there anything I'm missing that would've hinted the unfavorable outcome?

NU: Triangle breakout, I waited for price to clear the mid level and previous low and entered.
Attached Image
  • #10,474
  • Jul 30, 2015 1:36pm Jul 30, 2015 1:36pm
Ok all, I could really use some advice on the psychological aspect of trading. I'm a relative newbie, and I'm finding that watching my trades play out is excruciating. Do most of you more experienced traders put on a trade and then walk away? Even on the 15 min charts the trade can go on for hours and then 2 hours after your entry there you are right at were you originally entered the trade. Now I'm looking for reasons to get out- OMG - a doji- after 6 same colored candles! Ok I'm out for a small loss or gain. Of course literally seconds later my target gets hit but I got scared out of the trade. What do you guys do? I'm thinking not watching the trade may be the way to go. Put on the trade and go play with the dog for half an hour, do a quick check then walk away and check back in another 45 min? All my trades are brackets so once my target or stop gets hit it takes out the other order, so I don't have to worry about canceling any orders.Thoughts? I'm sure it's not just me going thru this. I have a feeling that just like all the costly lessons I've had to learn to get to this point, this is just another one.

PS: thanks Coastie and EV for providing me with the link to Acumens videos.
  • #10,475
  • Edited 3:33pm Jul 30, 2015 2:47pm | Edited 3:33pm
Quoting Ruffer77
Ok all, I could really use some advice on the psychological aspect of trading. I'm a relative newbie, and I'm finding that watching my trades play out is excruciating. Do most of you more experienced traders put on a trade and then walk away? Even on the 15 min charts the trade can go on for hours and then 2 hours after your entry there you are right at were you originally entered the trade. Now I'm looking for reasons to get out- OMG - a doji- after 6 same colored candles! Ok I'm out for a small loss or gain. Of course literally seconds later my...
Hi mate, I'm no expert and I'm also trying to get my way around the psych and methodological aspect of trading, but as far as I can tell from a statistical background as a former professional poker player is that you are putting way too much weight on individual trades. I mean, you must do your best to pick the best probable setups in order to maximize your expectancy, however this doesn't mean the market will play out as you want. An edge its just a probability of one thing happening more likely than the other, if you have a 65% winrate you must accept that at least 35% loss is a reality (and Winrate is dependent of sample size), and the distribution between win/loss is not in the control of the trader. Therefore focus on the things you can control like, the best setups, solid MM, psychological detachment, finding ways to cut you losses quickly and so on.

just my 2cents
  • #10,476
  • Jul 30, 2015 11:17pm Jul 30, 2015 11:17pm
Quoting fuzz
This one is a trade that ended up in a loss, just as a sanity check, is there anything I'm missing that would've hinted the unfavorable outcome? NU: Triangle breakout, I waited for price to clear the mid level and previous low and entered. {image}
Hey, Fuzz

Here is what EV posted in the thread:
Quote
Basically, if a pattern sets up between pivots, then I would be reluctant to enter unless there's a fair amount of space to work with. When things are getting a little cramped, I stay out. However, when a flag, wedge, triangle etc., forms around any of the pivots, then I'm VERY interested.

Just look where that triangle had formed.
  • #10,477
  • Jul 31, 2015 1:54am Jul 31, 2015 1:54am
EJ M15

Triangle consolidation around MR1 and breakout
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM15.png Size: 62 KB
  • #10,478
  • Jul 31, 2015 2:21am Jul 31, 2015 2:21am
GJ M15

This one was looking good but failed. Closed for -1.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM152.png Size: 54 KB
  • #10,479
  • Edited 3:00am Jul 31, 2015 2:38am | Edited 3:00am
Morning Lads. Bought UC, triangle break out
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDCADM15.png Size: 63 KB
Click to Enlarge Name: 1.png Size: 64 KB
  • #10,480
  • Jul 31, 2015 2:38am Jul 31, 2015 2:38am
Quoting Cold_W
EJ M15 Triangle consolidation around MR1 and breakout {image}
Good one
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